Stocks Slip As Options Expire; FireEye, Rocket Fuel Soar

The Dow Jones industrial average and S&P 500 were under selling pressure Friday, but selling was muted in the Nasdaq.

Indexes were near session lows with a little more than one hour left in the session. The Dow lost 0.8%; the S&P 500 fell 0.6% and the Nasdaq eased 0.2%. Preliminary data showed NYSE and Nasdaq volume tracking higher than Thursday; more so on the NYSE. Options expired today, which resulted in higher volume across the board.

In the stock market today, FleetmaticsGroup (FLTX) bounced back 2% after Thursday's shellacking. Shares cratered 16% after a Seeking Alpha article raised questions about the company's accounting practices. The Ireland-based developer of mobile fleet management software went public in October and nearly tripled from its offering price of $17. Shares were recently trading around 39.

Meanwhile, two more IPOs hit the ground running Friday. FireEye (FEYE) priced at $20 a share and opened at 40.30. Shares were recently trading around 39. And Rocket Fuel (FUEL) priced at $29 and opened at 59.95. Shares recently exchanged hands around 55.

Inside the IBD 50, Generac Holdings (GNRC) continued work on the right side of a shallow, cup-shaped base. Shares rose 2%. The potential buy point is 44.40, but keep in mind that Generac's current structure is fourth-stage base after a big price move already. The company makes generators for residential and commercial markets.

Elsewhere, Spirit Airlines (SAVE) added 1%. The stock went public in May 2011 at $12. It's working on the right side of a cup-shaped base but it's also a fourth-stage structure.

On the downside, Yandex (YNDX) slumped 5% after a nice accumulation phase in recent days. The Russian search firm surged to an all-time high Thursday in heavy volume, but it's extended after a cup-with-handle breakout in July and a bounce off its 10-week moving average during the week ended Sept. 6.

Next week is fairly quiet on the earnings docket, but here's a look at some names scheduled to report.

The Dow Jones industrial average and S&P 500 were under selling pressure Friday, but selling was muted in the Nasdaq.

Indexes were near session lows with a little more than one hour left in the session. The Dow lost 0.8%; the S&P 500 fell 0.6% and the Nasdaq eased 0.2%. Preliminary data showed NYSE and Nasdaq volume tracking higher than Thursday; more so on the NYSE. Options expired today, which resulted in higher volume across the board.

In the stock market today, FleetmaticsGroup (FLTX) bounced back 2% after Thursday's shellacking. Shares cratered 16% after a Seeking Alpha article raised questions about the company's accounting practices. The Ireland-based developer of mobile fleet management software went public in October and nearly tripled from its offering price of $17. Shares were recently trading around 39.

Meanwhile, two more IPOs hit the ground running Friday. FireEye (FEYE) priced at $20 a share and opened at 40.30. Shares were recently trading around 39. And Rocket Fuel (FUEL) priced at $29 and opened at 59.95. Shares recently exchanged hands around 55.

Inside the IBD 50, Generac Holdings (GNRC) continued work on the right side of a shallow, cup-shaped base. Shares rose 2%. The potential buy point is 44.40, but keep in mind that Generac's current structure is fourth-stage base after a big price move already. The company makes generators for residential and commercial markets.

Elsewhere, Spirit Airlines (SAVE) added 1%. The stock went public in May 2011 at $12. It's working on the right side of a cup-shaped base but it's also a fourth-stage structure.

On the downside, Yandex (YNDX) slumped 5% after a nice accumulation phase in recent days. The Russian search firm surged to an all-time high Thursday in heavy volume, but it's extended after a cup-with-handle breakout in July and a bounce off its 10-week moving average during the week ended Sept. 6.

Next week is fairly quiet on the earnings docket, but here's a look at some names scheduled to report.

See Also

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03/02/2015 03:04 PM ET

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